Choosing paper wallet

[Frosten]

Hello!

I am new here as you can guess . I want a cold storage that has "reasonable good" security.

There are several sites that has javascript paperwallet generators, which of these are safe? Most of them are open source, hosted at GIT.

Is a paper wallet encrypted with Bip38 safe enough to store on off site backups?

My plan is to start a clean Linux and download a generator and generate a few wallets and print them out.

I'm planning to use my phone as a hot storage device for small amounts, what's your strategy? You are the experts.

Best regards

Edit 1:

According to the "Stay Safe thread" - Don't use bitcoins on rooted phones. So I will avoid that.

[gentlemand]

I used bitaddress.org and generated the addresses offline. I'm sure there are more secure ways of doing it but those coins haven't moved in a couple of years.

I used Copay and Mycelium for mobile wallets. No complaints from me.

If you really want to go for it there's stuff like this http://cryptographi.com/ and Trezor but they're not necessary if you've done your homework.

[BG4]

I produce and sell  paper wallets printed on premium security paper  .  Most people who purchased them are collectors and look at them as art.  If you are looking for something fancy then take a look at PaperSafe.org . I print the addresses encrypted from bitaddress.org  


BG4
PaperSafe.org

[unholycactus]

As mentioned above, a hardware wallet can be a convenient alternative.

However, it obviously isn't worth it to buy a 120$ device to store a small amount of Bitcoin.
Same logic goes for paper wallets, is it really worth the trouble to store 0.5BTC? That depends on you.

[gentlemand]

Same logic goes for paper wallets, is it really worth the trouble to store 0.5BTC? That depends on you.

Depends on your time frame. It's really not a hassle to make one at all. It is a little bit of a grind and totally pointless if you intend to spend it one week later.

[Frosten]

Thank you for all the answers!

My time frame for the cold storage is 3-5 years.

My idea of offline generated paper wallets for cold storage 3-5 years, is there other convenient options?

The original Bitcoin android app can scan the QR code on paper wallets, is that safe? I just want a procedure for how to spend them when the time comes.

gentlemand: I used Copay and Mycelium for mobile wallets. No complaints from me.

Is Copay like the original Bitcoin wallet for android? And you use Mycelium for hot wallet stored at Mycelium servers?
If so, I guess


Having a dedicated Bitcoin Armory seems overkill for my budget and I don't want to buy a device. I think I get lost in all the choices. What's your strategy? What apps do you use?

Best regards

[gentlemand]

Is Copay like the original Bitcoin wallet for android? And you use Mycelium for hot wallet stored at Mycelium servers?
If so, I guess

Having a dedicated Bitcoin Armory seems overkill for my budget and I don't want to buy a device. I think I get lost in all the choices. What's your strategy? What apps do you use?

Best regards

I have a Windows phone (I am not ashamed) and Copay's the only viable wallet for that. It used to be very beta but has now become massively improved. I also have an android tablet and I use Mycelium with that.

Those two are only used for storing small amounts that I intend to spend.

The rest is all paper wallets made with bitaddress.org for longer term storage. That works fine for me. I don't want to dick around with USB sticks or air gapped computers. Paper can be stored anywhere and backed up endlessly for nothing.

[Frosten]

Thanks!

I read this at bitcoinpaperwallet.com

if you do not have a strong understanding of the BIP38 encryption and decryption workflow, do not BIP38-encrypt your paper wallet. Just print your paper wallet out without encryption, and keep it safe the same way you would jewels or cash.

I'm not a professional cryptologist. I can use tools to encrypt and decrypt files but I don't have deep understanding of the underlying mechanisms. Because of that should I avoid BIP38 and just be careful where I store the papers?

But the clients can scan the QR code and handle it seamlessly even with BIP38. What do you guys think?
If I decide to encrypt it with bip38 then I could store the password elsewhere. Any other drawbacks of BIP38?

Of course it could be that I misplace or forget (Maybe a disease?) and then the papers would be useless.     

[Possum577]

Wallet selection...

Here's a resource on paper wallets: https://en.bitcoin.it/wiki/Paper_wallet

Here's a resource on mobile (and other) wallets: https://bitcoin.org/en/choose-your-wallet

[Frosten]

Wallet selection...

Here's a resource on paper wallets: https://en.bitcoin.it/wiki/Paper_wallet

Here's a resource on mobile (and other) wallets: https://bitcoin.org/en/choose-your-wallet

I can't find any "Wallet Selection..." in the forum.

I have read through that before posting, my latest question was about BIP38. It's still interesting to hear what the veterans use and how to avoid pitfalls, very useful for newbies like me.

Where I am at now:

1. Paper wallets for 3-5 years storage without BIP38
2. Bitcoin android Wallet for android and Mycelium

[Muhammed Zakir]

-snip-
I'm not a professional cryptologist.

Neither am I.

I can use tools to encrypt and decrypt files but I don't have deep understanding of the underlying mechanisms.

You don't have to study cryptography to encrypt private keys. Just study the basics. https://github.com/bitcoin/bips/blob/master/bip-0038.mediawiki

Because of that should I avoid BIP38 and just be careful where I store the papers?

That's your choice. If you want to use BIP38 encrypted paper wallet, you can use it. Else, don't. Either way, store your paper wallet safe.

But the clients can scan the QR code and handle it seamlessly even with BIP38. What do you guys think?

Most of the clients now have option to sweep from or import BIP38 encrypted private keys. I would gp with it.

If I decide to encrypt it with bip38 then I could store the password elsewhere. Any other drawbacks of BIP38?

I don't think "storing password somewhere else" is a drawback of BIP38. If you are writing down your password, don't write it as a "password". Write something and along with it, write your password. So it is less obvious.

Of course it could be that I misplace or forget (Maybe a disease?) and then the papers would be useless.     

That's not a drawback of BIP38.

-snip-

1. Paper wallets for 3-5 years storage without BIP38

Paper wallets are good-to-go for long-term storage. But physical security is low. I highly recommend you to print/write private keys in a thick paper & make a few copies and try not to store it inside a plastic cover. If you are doing so, then you should take printed/written paper out once every few months and if you are in coastal area, take it out more frequently. For little more security, put one or two papers on both sides of the printed/written paper so that it does not touch plastic. By doing so, you don't need to take it out frequently.

2. Bitcoin android Wallet for android and Mycelium

[bitbaby]

If your intention is to only store funds for a long time then why don't just install electrum on an offline machine, send funds to one of it's address and just make note of its seed somewhere safe, then when you need to use the funds in future you would only have to restore the electrum wallet with it's seed and you'll have your funds.

This is what I am doing btw, I don't have any paper wallets or trezor or any other cold storage device, just an electrum which stays offline and I remember it's seed and I have stored it down somewhere in-case I ever forget it. And that's it.

[upsidedown75]

i always use bitcoinpaperwallet.com. it is the best i have had nothing to complain yet. but i am not a cryptoist.

[huctalk]

I think it is bad security to use anything online to create an offline wallet. There are guides that show how to create and address/priv key on an offline computer, preferably a live OS cd.

[ranlo]

If you want the truly safe way to make a paper wallet, you have to do a couple things:

1) Find a PC that has NEVER been online (i.e., building one yourself with brand new parts -- while it hasn't been seen yet, people say you could even infect a bios)

2) Download one of the scripts for generating cold wallets

3) Generate it on that system

Never take that system online. If you need to transfer from it, sign the transaction there and use a USB drive to take it to another system where you transmit it to the network.

[BurgerKill]

If you want the truly safe way to make a paper wallet, you have to do a couple things:

1) Find a PC that has NEVER been online (i.e., building one yourself with brand new parts -- while it hasn't been seen yet, people say you could even infect a bios)

2) Download one of the scripts for generating cold wallets

3) Generate it on that system

Never take that system online. If you need to transfer from it, sign the transaction there and use a USB drive to take it to another system where you transmit it to the network.

How are you supposed to download a script if you aren't supposed to get online in the first place? Download a script to a USB and then transfer the file from the USB to the computer?

I'm still new to paper wallets so forgive me if my question seems like a newbie.

[Frosten]

Muhammed Zakir, Thank you for a comprehensive answer.

I will go with BIP38 encrypted BT Papers.

Answer to Ranio, I don't feel the need to build a new computer and just use that for creating the keys, I will go somewhere in the middle, but it's easy be paranoid when you realise how much that can go wrong. But I'm not talking about my lives savings, but I still want to make a best effort not loosing it. First I need to understand the technology before investing larger sums.

1. Using a live iso (linux) on a usb stick, checksum the iso
2. Download the generator on a separate  usb stick check sum it
3. Generate and print the papers  

BurgerKill, if you want to make sure a computer never touches internet you basically need type it in. But if you checksum the file before a transfer you can be quite sure that no one has tampered the file. But the USB interface is not secure it has it's drawbacks, it's a design fault. Maybe you can hand write a BT paper if you are really paranoid (That doesn't mean a bad thing).  

For the hot wallet I think I will use the original Bitcoin wallet (If no objections?). Is it possible to use the same wallet on different devices, I mean my phone and my laptop? It would be convenient. I will avoid using online wallets, a friend lost about a few hundred  BT, think it was MtGox or something like that.

[unholycactus]

If you want the truly safe way to make a paper wallet, you have to do a couple things:

1) Find a PC that has NEVER been online (i.e., building one yourself with brand new parts -- while it hasn't been seen yet, people say you could even infect a bios)

2) Download one of the scripts for generating cold wallets

3) Generate it on that system

Never take that system online. If you need to transfer from it, sign the transaction there and use a USB drive to take it to another system where you transmit it to the network.

How are you supposed to download a script if you aren't supposed to get online in the first place? Download a script to a USB and then transfer the file from the USB to the computer?

I'm still new to paper wallets so forgive me if my question seems like a newbie.

Yes, if you know the source code of the script and the compiled version matches, it will be safe.

[ranlo]

If you want the truly safe way to make a paper wallet, you have to do a couple things:

1) Find a PC that has NEVER been online (i.e., building one yourself with brand new parts -- while it hasn't been seen yet, people say you could even infect a bios)

2) Download one of the scripts for generating cold wallets

3) Generate it on that system

Never take that system online. If you need to transfer from it, sign the transaction there and use a USB drive to take it to another system where you transmit it to the network.

How are you supposed to download a script if you aren't supposed to get online in the first place? Download a script to a USB and then transfer the file from the USB to the computer?

I'm still new to paper wallets so forgive me if my question seems like a newbie.

You got it!

And @Frosten, in regards to the building a new PC thing, it shouldn't be a necessity, TBH. But there were a lot of theoreticals thrown around in 2013 about being able to infect the BIOS of systems and a logger as well, that may be able to exploit things in some way. That said, is it a concern? I don't believe so. But it's better to be safe than sorry if you're storing a lot.

[shane]

for create new paper wallet i choose vanitygen
i create new custom wallet address like 1shanexxxxxx (using command prompt)  after it i use blockchain to import my custom bitcoin address, and i export it to paper wallet 
need more step but i like my way i trust blockchain